Automotive surround view systems: Key market research findings
- Development of affordable 360-degree cameras drives market growth
- EMEA dominates the market geographically
- Key vendors – Ambarella, Clarion Technologies, Continental AG, Fujitsu, and Valeo
Technavio’s market research analysts predict the global automotive surround view systems market to grow at a CAGR of almost 12% between 2016 and 2020. Much of this market’s growth is stimulated by the development of affordable 360-degree cameras, backed by increasing demand for safety systems. Growth in disposable incomes and the willingness to have such systems are facilitating the evolution of safety, emergency systems, and display space in the automotive interior and exterior electronics spaces. During 2015, EMEA dominated the global automotive surround view systems market by accounting for a market share of around 53%. The significant market for luxury passenger cars, where in-car camera-assisted systems are widely offered, in the region is expected to drive growth in the automotive surround view systems market in EMEA during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the automotive surround view systems segments based on the vehicle type.
“High-resolution cameras and backlit complementary metal oxide semiconductor (CMOS) are gaining traction in the market currently. High-technology fish-eye cameras that are mounted at the front and rear of the vehicle and in the mirrors provide a complete perspective through multiple processors that stitch all images to provide a single image. The application of wide dynamic range (WDR) imaging algorithms in surround view systems further enhances the image quality,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research.
In 2015, the passenger car segment led the market with around 85% share of the overall market space. This market segment includes high-end passenger cars, mid-end passenger cars, and entry-level cars. Automotive surround view systems like camera-based applications in vehicles help automakers to ensure that their vehicles conform to government-mandated safety norms and features. As a result, a large number of OEMs are adding more camera-based systems in automobiles with a view to address passenger and pedestrian safety.
The key vendors in the market include Ambarella, Clarion Technologies, Continental AG, Fujitsu, and Valeo. Due to the presence of several surround view system manufacturers, this market appears highly competitive. The market is currently dominated by three major suppliers (Continental, Bosch, and Denso) who account for a major share of the market. However, the presence of several regional and other global vendors will intensify the level of competition during the forecast period.
A more detailed analysis is available in the Technavio report, Global Automotive Surround View Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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